Robeco Institutional Asset Management B.V. Lowers Holdings in Dolby Laboratories, Inc. (NYSE:DLB)

Robeco Institutional Asset Management B.V. lessened its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 3.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 196,356 shares of the electronics maker's stock after selling 7,387 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.20% of Dolby Laboratories worth $15,027,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Dolby Laboratories by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker's stock worth $544,711,000 after acquiring an additional 107,713 shares during the period. Ninety One UK Ltd raised its holdings in Dolby Laboratories by 2.6% during the 2nd quarter. Ninety One UK Ltd now owns 2,344,963 shares of the electronics maker's stock valued at $185,791,000 after buying an additional 60,114 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in Dolby Laboratories by 0.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,402,623 shares of the electronics maker's stock valued at $111,130,000 after buying an additional 10,852 shares during the period. Boston Trust Walden Corp increased its position in shares of Dolby Laboratories by 185.3% in the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker's stock valued at $82,276,000 after acquiring an additional 698,283 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in Dolby Laboratories by 3.5% in the 2nd quarter. Mackenzie Financial Corp now owns 1,010,230 shares of the electronics maker's stock worth $80,041,000 after buying an additional 33,848 shares during the period. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Price Performance

DLB traded up $0.51 on Thursday, hitting $75.98. The company had a trading volume of 136,536 shares, compared to its average volume of 397,234. The firm has a market capitalization of $7.24 billion, a P/E ratio of 34.46 and a beta of 0.98. The stock has a fifty day simple moving average of $73.10 and a 200-day simple moving average of $76.40. Dolby Laboratories, Inc. has a 52-week low of $66.35 and a 52-week high of $90.06.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The electronics maker reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.14. The firm had revenue of $288.82 million for the quarter, compared to analysts' expectations of $286.26 million. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. Equities research analysts expect that Dolby Laboratories, Inc. will post 2.71 earnings per share for the current fiscal year.

Dolby Laboratories declared that its board has approved a stock repurchase plan on Wednesday, August 7th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the electronics maker to reacquire up to 5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, Barrington Research reiterated an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Friday, September 20th.

Insider Transactions at Dolby Laboratories

In other news, CEO Kevin J. Yeaman sold 28,512 shares of the firm's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the sale, the chief executive officer now directly owns 83,721 shares in the company, valued at $6,205,400.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 39.54% of the company's stock.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.